Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC cut its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,996 shares of the cryptocurrency exchange’s stock after selling 3,351 shares during the period. Penserra Capital Management LLC’s holdings in Coinbase Global were worth $11,045,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COIN. Renaissance Technologies LLC raised its stake in Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after buying an additional 691,288 shares during the last quarter. American Century Companies Inc. boosted its stake in Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after purchasing an additional 435,886 shares in the last quarter. APEIRON CAPITAL Ltd purchased a new stake in Coinbase Global during the 1st quarter worth approximately $108,434,000. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Coinbase Global during the 3rd quarter valued at approximately $29,756,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Coinbase Global in the third quarter worth $26,665,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $188.94, for a total value of $283,410.00. Following the completion of the sale, the chief operating officer now directly owns 197,101 shares in the company, valued at $37,240,262.94. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Alesia J. Haas sold 5,250 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total value of $1,025,062.50. Following the completion of the sale, the chief financial officer now directly owns 169,786 shares of the company’s stock, valued at approximately $33,150,716.50. This represents a 3.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,129 shares of company stock worth $46,522,970. 23.43% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

COIN has been the topic of several research reports. B. Riley began coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. Needham & Company LLC raised their price target on shares of Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Canaccord Genuity Group restated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research note on Thursday, October 31st. Finally, Piper Sandler reiterated a “neutral” rating and issued a $245.00 price objective on shares of Coinbase Global in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $251.00.

Coinbase Global Stock Performance

COIN opened at $304.64 on Monday. The firm’s fifty day simple moving average is $214.20 and its two-hundred day simple moving average is $215.18. Coinbase Global, Inc. has a 52-week low of $107.98 and a 52-week high of $341.75. The company has a market cap of $76.27 billion, a price-to-earnings ratio of 51.99 and a beta of 3.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was up 78.8% on a year-over-year basis. Equities analysts anticipate that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.